Joost Wreckage Sold To Adconion

The Adconion Media Group today announced that it has acquired Joost -- or at least Joost's assets. In 2007, Joost was supposed to be the future of TV on the Web.

The company, started by the Skype founders, raised a ton of cash but never gained traction with consumers, in large part because it depended on a clunky desktop client. (Meanwhile, a lo-fi startup called YouTube shot off like a rocket and got bought by Google for $1.65 billion.)

Terms of the transaction were not disclosed.

Here's the canned quote from AMG's press release:

“Video is a top priority for our company, and through the acquisition of the Joost assets we will be able to provide advertisers, content owners and website publishers with an end-to-end global video platform and cross-channel video and display ad-serving solution,” said Tyler Moebius, CEO, Adconion Media Group. “This acquisition immediately brings additional scale and content to the Adconion video pre-roll network for clients who are looking for a safe, cost-effective alternative to achieve the maximum value of online video advertising. We’ll also continue to operate Joost.com, providing clients with a destination site to showcase and distribute their branded entertainment content.”